All Forum Posts by: Alejandro Flores

@Mark Pedroza  

Some are and some are not. I send the letter to the applicant which is the person who filled it out the probate, but like I said the application for probate says the "Applicant is domiciled in and resides at address* " so I send a letter there. I send 200 mail's a month on probate and 600 mail on absentee owners. The probate response rate is at 0% do you think I need to send more?

@Sharon Vornholt  I got a question. I'm sending white envelopes with white computer print letters and not getting the response I should. Em I sending the mail correctly? The applicant address is in the picture but whenever I look it up it's the decedent address. My letter is not long and professional.

I got a call yesterday (4/25/17) of an old lady saying she got my card that said "I buy houses" and that she would like to sell her house (absentee owner). I asked her questions about the house and then she went on telling me to go check on the house. I tried for her to tell me how much she would want the house for but she wouldn't tell me. So I was okay then, at least this will be a learning experience.

The next day comes which is today.  Went to meet her and made sure I came out as professional as possible, also I was able to make a really good report. I was really friendly told her that my business always try's to be as much transparent and honest as possible in everything. We had a good time before I made an offer. I checked the house out and was able to come up 20k of rehab. Before I gave my offer I explain how I came up with the 20k. Also, I told her the closing cost, realtor, holding costs of what I would pay, so she could see a reasonable offer.  

AVR; 170k

Rehab: 22k

Closing, holding, realtor: 22k (a lot but to be safe)

profit: 20%(15%- end buyer, 5% for to wholesale) 

Offer: 96k is the most but asked 75k to play around 

She then said the least she wants for the property is 125k. Then I explain to her. "okay the house in tip top shape is 170k, minus closing, holding, realtor, holding, it would be around 145k, minus repair it would be 123k. That's no profit for me." Then I gave the best options she would have, 1; selling with a realtor and hope to sell it (wait 6-12 months to sell), 2; keep it, 3; Fix it yourself and sell it at 170k or 4; sell it to me and I'll close quickly and get you cash quick and not worry about anything. 

I was seeing I wasn't going to get something. She then said she has other investor that will look in at her house, then I told her "well before you accept any other offer call me, I probably can beat their offer" left her my business card and some paper of my estimates and that was it. 

So this was an amazing learning experience, and I got to say I loved it! Even though I didn't get the house under contract it felt nice that finally after 2 moths I made an offer. A step closer to success on getting my first deal! Also, I got a question, should I keep in touch with the seller if so, how?

@Trent Keefer Yeah no problem, well absentee owner I find them on Listsource.com, you might get confused on using it the first time so I recommend going to YouTube and watching how other investors do it. Hit a good target, for example, 50% equity, 2-5 bedroom, 2-5bathrooms, last sale 4 years.

For Probate it's more complicated. You have to go or visit online the county clerk office and search for probate files and find the files that actually have an Estate and find the Executer and their address then sends them a letter.  (very motivated sellers because they inserted a house they might not want, they most likely want money)

On Pre-foreclosure Listsource.com has the list, but most won't be motivated till the last days, which won't give you time to wholesale. Yes, you can get a deal if you have more time that's why look in 90 days before the auction.

On FSBO you can look them up online and send them a letter saying you can buy quickly.

In all of this catagories 

There are multiple categories you can hit. 

• Absentee Owner; (in and out of state)
• Probate
• Pre-foreclosure (recommend with equity)
• Divorce 
• Inheritance List 
• code violations
• FSBO
• Abandoned houses

and much more, but those are the ones that you can send letters to.

@Andrew Johnson Yeah, I'm sending the ones that live close to the properties. I'm going to send them a letter a month for 6-8 months. Use the same envelope just a little different but same message, and the penny quote LOL. Going to be known as the penny guy. 

Since it's my second mail I will rearrange some words and add "This 2nd Penny might not satisfy but can it help you?" 

On my first, mail I sent out 200 letters and got one call, this lady told me if I buy house 200 miles away from me in a place that is a rural area, told her I would have to look into that. I mean, I could find an investor that works in that area and wholesale the deal to him.

Month later...

Now on my second mail sending and hitting the same 200 list, but I feel like my message is not right. This is what I'm saying (I put a penny outside envelope) 

"This Penny Might Not satisfy, but Can it help?

Hi my name is Alejandro Flores, I'm a Real Estate Expert specialize on helping people getting Rid of their UNWANTED Properties.

I know the struggle of handling tenants. Getting that late call asking YOU to fix up the clog up toilet. Yeah, not so fun, RIGHT !?

That's Why give me a call or text to give you a FREE Amazing FAIR CASH offer. "

• I print this close as possible handwritten
• Use a yellow paper
• Envelop is 4x6 with bright color
• I hot glue a penny outside the envelope (distinguishing my letter from the rest)  
• I put a 49 stamp unique and a 21 cent stamp (21 cents is for the machine to not rip the penny out of the envelope) 

Any advice would be great. 

@Jay Hinrichs, I want to thank you for opening my eyes I haven't seen that side until now. So one question how would you help someone in pre-forecloser? here in texas you don't have to have license to work on foreclosures.  

Thank you for the comment@Rick Pozos, I like that strategy!   but since i'm looking to find a property where I can have cash flow and not worry about the property as much that's why I want to try the wrap method. I know it triggers the "due on sale clause" and that could make the lender close on me, but it wouldn't make sense to do it. Actually I would help the lender keep getting money and have them not lose at all, save someone from foreclosure, and help the end buyer get a house that he couldn't get a traditional loan.